Employee benefit obligations (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Targeted Allocation for Funds

The targeted allocation for these funds is as follows:


Asset Allocation by Category as of December 31, 2021:						Asset allocation (%)
Asset Category:
Debt Securities						30%
Real Estate						27%
Equity Securities						37%
Others						6%
Total						100%

Schedule of Change in Benefit Obligations

The following table sets forth the Swiss Plan’s funded status and amounts recognized in the consolidated financial statements for the year ended December 31, 2021 and 2020:


	December 31,
	2021		2020
Change in Benefit Obligation
Projected benefit obligation at beginning of year	$	22,753	$	15,685
Interest cost	48		37
Company service cost	1,915		1,483
Employee contributions	1,167		870
Prior service cost	(923)		—
Benefits paid	2,976		1,612
Actuarial loss	2,039		3,066
Projected benefit obligation at end of year	$	29,975	$	22,753
Change in Plan Assets
Fair value of plan assets at beginning of year	$	18,082	$	12,356
Actual return on plan assets	1,992		1,938
Employer contributions	1,750		1,306
Employee contributions	1,167		870
Benefits paid	2,976		1,612
Fair value of plan assets at end of year	$	25,967	$	18,082
Funded Status at End of year
Excess of obligation over assets	$	4,008	$	4,671
Change in Accrued Benefit Liability
Accrued benefit liability at beginning of year	$	(4,671)	$	(3,329)
Company contributions made during year	1,750		1,306
Net periodic benefit cost for year	(1,310)		(1,909)
Net decrease (increase) in accumulated other comprehensive loss	223		(739)
Accrued benefit liability at end of year	$	(4,008)	$	(4,671)


	December 31,
	2021		2020
Non-current plan assets	$	25,967	$	18,083
Non-current liability	29,975		22,754
Accrued benefit liability at end of year	$	(4,008)	$	(4,671)
Projected Benefit Payments
Projected year 1	$	567	$	1,804
Projected year 2	454		394
Projected year 3	819		400
Projected year 4	765		788
Projected year 5	452		405
Projected years 6-10	13,816		3,445

Schedule of Plan Assets Fair Value


	Year ended December 31,
	2021		2020
Net Periodic Benefit Cost
Service cost	$	1,915	$	1,483
Interest cost (income)	48		37
Expected return on plan assets	(508)		(31)
Amortization of actuarial (gain) loss	133		120
Amortization of prior service costs	(94)		(21)
Total net periodic benefit cost	$	1,494	$	1,588

Weighted average assumptions:
Discount rate as of December 31	0.20%		0.20 %
Expected long-term rate of return on assets	2.50%		0.20 %
Rate of compensation increase	1.00%		1.00%
Mortality and disability assumptions (*)	BVG 2020 GT		BVG 2015 GT

(*) Mortality data used for actuarial calculation.